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The Honolulu Advertiser
Posted on: Friday, January 4, 2008

Investors cautious ahead of jobs report

Associated Press

NEW YORK — Wall Street closed narrowly mixed yesterday as investors traded cautiously ahead of the Labor Department's reading today on December employment. Inflation jitters remained high as oil prices set a new trading record above $100.

Investors who sent stocks skidding Wednesday amid economic concerns and rising oil prices initially took some solace in findings released yesterday by payroll company Automatic Data Processing. The ADP report said the economy added 40,000 private-sector jobs last month, above the 30,000 forecast of economists polled by Dow Jones.

Also yesterday, the Labor Department said the number of newly laid off workers seeking unemployment benefits fell last week.

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